Nisa Investment Advisors LLC reduced its holdings in shares of Blackstone Inc. (NYSE:BX – Free Report) by 6.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,743 shares of the asset manager’s stock after selling 5,369 shares during the period. Nisa Investment Advisors LLC’s holdings in Blackstone were worth $8,826,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Wellington Altus USA Inc. acquired a new position in shares of Blackstone in the second quarter worth $26,000. Addison Advisors LLC purchased a new stake in shares of Blackstone during the second quarter worth $30,000. NBH Bank acquired a new stake in shares of Blackstone in the second quarter valued at $30,000. Bell Investment Advisors Inc purchased a new position in Blackstone in the second quarter valued at $30,000. Finally, West Branch Capital LLC boosted its holdings in Blackstone by 26,600.0% in the second quarter. West Branch Capital LLC now owns 267 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 266 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.
Key Headlines Impacting Blackstone
Here are the key news stories impacting Blackstone this week:
- Positive Sentiment: Blackstone reported third-quarter distributable earnings of $1.32 per share, ahead of the $1.26 consensus estimate. Assets under management reached a record approximately $1.37 trillion, while net inflows exceeded $63 billion. Fee-related earnings increased 6%, supporting confidence in the company’s recurring revenue base. Blackstone Inc. Q3 earnings report
- Positive Sentiment: The board declared a $1.12-per-share quarterly dividend, payable November 9. The payout, strong fundraising and continued growth in alternative assets helped offset concerns about near-term earnings volatility. Blackstone Q3 readout
- Positive Sentiment: Investors also continue to see potential from Blackstone’s growth initiatives, including an $8.7 billion energy-transition fund close, expansion of its wealth-management channel and potential investments in artificial intelligence infrastructure. Blackstone energy fund close
- Neutral Sentiment: The earnings reaction reflects a distinction between distributable earnings and GAAP results. Blackstone’s reported GAAP EPS was $0.83, while revenue was $3.06 billion, below the $3.27 billion estimate. Blackstone misses Q3 revenue estimates
- Negative Sentiment: Profitability was pressured by difficult markets and higher interest rates. Private-equity asset-sale proceeds fell 49%, weakening realization-related income, and adjusted earnings declined from the prior year. These factors could continue to make results volatile if exits remain limited. Blackstone core businesses hit by rising rates
Analyst Ratings Changes
Several research firms recently commented on BX. Argus boosted their target price on Blackstone from $146.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Citizens Jmp reduced their price target on Blackstone from $190.00 to $165.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 9th. Royal Bank Of Canada lifted their price objective on Blackstone from $161.00 to $169.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. cut their target price on shares of Blackstone from $136.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, July 16th. Finally, Weiss Ratings raised shares of Blackstone from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 24th. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.40.
Check Out Our Latest Analysis on Blackstone
Blackstone Stock Performance
NYSE:BX opened at $118.39 on Friday. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $165.14. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $88.86 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 1.35 and a beta of 1.59. The business’s fifty day moving average price is $125.43 and its 200 day moving average price is $124.15.
Blackstone (NYSE:BX – Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The asset manager reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.06. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.27 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%. Blackstone’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 EPS. On average, sell-side analysts anticipate that Blackstone Inc. will post 5.85 earnings per share for the current fiscal year.
Blackstone Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Monday, November 2nd will be given a dividend of $1.12 per share. This is a drop from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. Blackstone’s dividend payout ratio is 115.44%.
Insider Activity
In other Blackstone news, major shareholder Holdings Iv L.P. Blackstone bought 191,695 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was purchased at an average price of $26.17 per share, for a total transaction of $5,016,658.15. Following the completion of the purchase, the insider directly owned 8,895,478 shares in the company, valued at $232,794,659.26. This trade represents a 2.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO David Payne sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $145.23, for a total transaction of $1,379,685.00. Following the sale, the chief accounting officer directly owned 64,448 shares in the company, valued at approximately $9,359,783.04. The trade was a 12.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have bought 464,792 shares of company stock valued at $12,205,945 and have sold 4,077,276 shares valued at $37,573,644. 1.00% of the stock is owned by company insiders.
Blackstone Company Profile
Blackstone Inc (NYSE:BX) is a global alternative asset management firm that provides investment and advisory services to institutional investors, companies, and qualified individual investors. The company manages capital across private equity, real estate, credit and insurance, infrastructure, hedge fund solutions, secondaries, and growth-oriented investments.
Blackstone invests in and manages portfolios of businesses, properties, infrastructure assets, and credit instruments across a range of industries.
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